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Global Nitrogen Market Report (2023 - 2032) | Growth Forecast, Trend Analysis And Competition Tracking
Nitrogen Global Market
The Business Research Company's Nitrogen Global Market Report 2023 identifies The growing food and beverage industry as the major driver for the Nitrogen market's growth in the forecast period. Nitrogen gas is widely used in the food and beverage industry for packaging food items. Nitrogen gas eliminates oxygen contact with the food item, preventing the oxidation of food, thus increasing its shelf life. This prevents food spoilage and helps maintain its quality.
The global nitrogen market size will grow from $35.19 billion in 2022 to $38.95 billion in 2023 at a compound annual growth rate (CAGR) of 10.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global nitrogen is expected to grow from $57.79 billion in 2027 at a CAGR of 10.4%.
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Major competitors in the Nitrogen market are Air Liquide, Linde Group, Praxair Inc., Air Products and Chemicals, Messer Group, Southern Industrial Gas Berhad, Taiyo Nippon Sanso Corporation, Gulf Cryo, Emirates Industrial Gases Co. LLC., and nexAir.
A key trend in the Nitrogen market includes increasingly using pressure swing adsorption (PSA) technology. They consist of adsorption vessels packed with carbon molecular sieves (CMS) which are capable of absorbing carbon dioxide and residual moisture. At high pressures, CMS selectively adsorbs oxygen, thus allowing nitrogen to pass through at the desired purity level.
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The Nitrogen market is segmented -
1) By Product Type: Compressed Gas, Liquid Nitrogen
2) By Application: Commercial Use, Industrial Use, Science and Research
3) By End User Industry: Petrochemical, Oil & Gas, Metal Manufacturing & Fabrication, Food & Beverage, Electronics, Pharmaceutical & Healthcare, Chemical, Other End Use Industries
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Nitrogen market.
The Business Research Company's "Global Nitrogen Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Nitrogen Market Include:
1. Executive Summary
2. Nitrogen Market Characteristics
3. Nitrogen Market Trends And Strategies
4. Nitrogen Market - Macro Economic Scenario
5. Nitrogen Market Size And Growth
……
27. Nitrogen Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Nitrogen Market
29. Nitrogen Market Future Outlook And Potential Analysis
30. Appendix
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